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WATCH: Stock picks — LabCorp and Old Mutual

Ricus Reeders from PSG Wealth Sandton and Deryck Janse van Rensburg from Anchor Securities talk to Business Day TV

19 June 2019 - 09:26 Business Day TV

Picture: 123RF/PHONGPHAN SUPPHAKANKAMJON

Ricus Reeders from PSG Wealth Sandton chose Laboratory Corporation of America Holdings (LabCorp) as his stock pick of the day and Deryck Janse van Rensburg from Anchor Securities chose Old Mutual.

Reeders said: “My stock is a US stock called LabCorp, they are basically medical laboratories and they are one of the big players in the US, if not the biggest. They were under pressure and have recovered somewhat, sitting at a forward price-earnings ratio of 13 times, which doesn’t make them expensive.”

Janse van Rensburg said: “I haven’t chosen one for a while but I’m choosing an SA stock, Old Mutual. I think that the share price in the short term got battered on the back of the unknowns around why the CEO is leaving, the chart mirrors that sentiment as well. The stock is sitting at around R21.60 a share at the moment and I think it is probably one of the cheapest I have seen in quite some time.”

Ricus Reeders from PSG Wealth Sandton and Deryck Janse van Rensburg from Anchor Securities talk to Business Day TV